88 Energy (LON:88E) has acquired the additional information requested for its well permit in Alaska and hopes to start drilling in days.
The explorer said it will make a renewed submission tomorrow or Wednesday and assuming the data is deemed adequate and permit issued well-spudding should take place soon after.
Dave Wall, 88’s managing director, said: "Progress on the Permit to Drill has been encouraging and we are now on track for spud later this week.
“The time has been utilised effectively, with minor repairs and additional testing undertaken on the rig, prior to hand-over ahead of spud."
Project Icewine is estimated as having an unconventional prospective resource (gross un-risked mean) of 492mln barrels (mmbbls) of oil.
With a probability of geological success of 41%, the risked mean prospective resource is 200mmbbls (gross).